US middle class in 'lost decade' as income falls

The US middle class is in a "lost decade" as its share of the country's income has been surpassed by affluent earners, a new report says.

The Pew Research Center found that 62% of middle-class Americans reported they were being forced to reduce spending.

And 43% expect their children's standard of living will be better than their own, down from 51% in 2008.